Relevance of pricing conditions types in SAP CRM product master

Hi All,

We can assign pricing conditions type in SAP CRM product master as well. My questions are

1. How we can create new pricing conditions type for product master. Normal priciing conditions  are not appearing in product master.

2. What is the advantage of assigning pricing condition in product master. As we can simply create a pricing condition and then create the condition records for them. Now what advantage we are going to achieve by assigning pricing condition in product master.

Thanks,

Naresh